The arts sector faces severe risks with over 500 museums having shut since the turn of the century and hundreds of theatres threatened with closure, necessitating urgent investment.
Leaders in the cultural sector are demanding significant financial support from the Labour government to tackle rising costs, including energy and national insurance contributions, to prevent a cultural wasteland.
The Society of London Theatre reported that one in five venues requires at least £5 million of investment over the next decade to remain operational amidst ongoing funding issues.
Without immediate and substantial capital investment, up to 40% of the UK’s theatres could close in the next five years, highlighting a critical need for government intervention.
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